APAC Credit Roundup: APAC Cross Regional Credit Weekly, LG Energy Solution, H8H, JSW Steel

Research evidence excerpt

APAC Credit Roundup: APAC Cross Regional Credit Weekly, LG Energy Solution, H8H, JSW Steel

J P M O R G A N Asia Pacific Credit Research

07 July 2026

APAC Credit Roundup

APAC Cross Regional Credit Weekly, LG Energy

Solution, H&H, JSW Steel

Asia Pacific Credit Research

Soo Chong Lim AC

(852) 2800-7387

soochong.lim@jpmorgan.com

J.P. Morgan Securities (Asia Pacific) Limited

• APAC Cross Regional Credit Weekly – Spreads tightened with yields moving Matthew(852) 2800-6518Hughart AC

higher matthew.hughart@jpmorgan.com

• LG Energy Solution – 2Q26 earnings turnaround with potentially higher J.P. Morgan Securities (Asia Pacific) Limited

profits in 2H Alvin Au AC

(852) 2800-8533

• Health and Happiness – Solid 1H26 operating performance alvin.au@jpmorgan.com

• JSW Steel – Fitch upgraded to BB+, maintained positive outlook J.P. Morgan Securities (Asia Pacific) Limited

Aman Aggarwal AC

(852) 2800-0081

aman.aggarwal@jpmchase.com

APAC Cross Regional Credit Weekly – Spreads tightened Shirley Yau AC

with yields moving higher (852) 2800-0566

shirley.yau@jpmorgan.com

JULI spreads tightened by 2bp w/w to 88bp. The index yield moved higher by 8bp to J.P. Morgan Securities (Asia Pacific) Limited

5.53% over the week. HG fund inflows in the week ended Wednesday, July 1, rose Emma Xing AC

sharply to $12.7bn (+82% w/w), well above the four-week average of $9.4bn. The (852) 2800-8727

pickup was broad-based across vehicles, with ETF inflows increasing 52% w/w to emma.xing@jpmorgan.com

$9.1bn and mutual fund inflows more than tripling to $3.6bn. Last week, $18bn of

EM, Economic and Policy Researchgross issuance was priced against $19bn of reinvestment income (maturities and

coupons). Looking ahead, our US team estimates that reinvestment income will fall Mahmoud Harb

to $17bn this week.